Which feature allows referencing groups via dimensions instead of individual levels?

The ability to reference groups via dimensions instead of individual levels is a critical feature that enhances the flexibility and readability of formulas in Workday Adaptive Planning. This feature simplifies the process of creating and maintaining formulas by allowing users to work with entire dimensions instead of having to specify each individual level. This not only saves time but also reduces the potential for errors, as changes in the underlying structure of the data can be more easily managed without requiring extensive formula updates.

In this context, the other options do not specifically address the concept of referencing groups through dimensions. Sheets Availability focuses on the accessibility of different sheets within the application, which is not related to how data is referenced in formulas. Model Management pertains to overseeing and adjusting models within Workday Adaptive Planning but does not inherently influence how data references are structured in terms of dimensions versus individual levels. Owned Levels refers to a concept in permissions and data ownership rather than a functional capability for referencing groups. Therefore, the correct answer identifies the feature that truly supports a more streamlined approach to formula creation and data management.